Cryptocurrency news today 12 September
Team Cryptocoins.group presents to your attention our regular column – “the news of the cryptocurrency today”. Recall that in this column we publish news, which influence on the exchange rate of the cryptocurrency of the TOP 100 by market capitalization according to Coinmarketcap.
By mid-week drop in the cryptocurrency market have increased. Almost all of the top ten Coinmarketcap is trading in the red zone, exceptions were only stablon Tether with traditionally zero dynamics and Stellar, which added 0.5 percent. While Ethereum, Bitcoin, Cash, Litecoin, and Cardano lost about 10% on 8% decrease in Monero. On this background looks steadily especially bitcoin, for several days in a row traded in the range of +-1%.
However, despite the stability of bitcoin, the collapse of the stock market from the highs of the beginning of 2018, has already reached 80%. For this indicator, “the Great cryptogram 2018” has already surpassed the gap post-dotcom-bubble in the 2000s. Earlier, the stock market is often compared with the dotcom boom in the late 90s – early 2000s, bringing as argument the fact that very few Internet companies of that time could survive, but now it is one of the world’s largest corporations. According to the columnist of Bloomberg’s Michael Patterson, the modern venture capital investors, as in the 2000s finally “down to earth” and a desire to participate in financing the revolutionary technology was replaced by fear of losing all the money.
The founder of Ethereum, Vitalik Buterin, a few days ago who expressed the view that the stock market will not show a 1000-fold rise, explained his point of view. After such controversial statements, many members of the crypto community criticized Baterina and branded him a pessimist. Vitalik said that he did not believe that the stock market has nowhere to grow, and intensive growth is impossible in principle. He just wanted to say that the modern cryptocurrency will not be able to grow in 1000 times due to mere hype and marketing as it was a year ago. In addition, the background of the continuing decline in many assets, strong growth will be recorded, even if some of them (including the air) just go back to the start of 2018.
Even more optimistic look at the situation the head of TRON Justin San and SEO Binance Chunpeng Zhao. San sure all the world’s assets will sooner or later go into a cryptocurrency format, and the largest cryptocurrency will overtake the capitalization of Apple and Amazon, reaching a minimum of $10 trillion. Zhao directly commented on the words Baterina and said that he sees prospects of a 1000-fold increase, even for market in its current state.
Ethereum co-founder Joseph Lubin gave an interview to CNN in which he tried to explain in detail the reasons for the explosive growth of the stock market in late 2017 and fall 2018. According to Lubin, at the end of last year, investors have been “too excited” by the prospect of technology and continued to invest even when it ceased to be economically feasible. Excessive takeoff attracted to the stock market attention, and gave occasion to the skeptics to inflate the panic and portend a global collapse. However, although the figures speak of a decline in the market boom of last year has attracted hundreds of industry companies and minds that right now produces many useful products on the blockchain. While the “price” falls, “value” grows, and in the future it will create the conditions for a new wave of growth industry.
Barry Eichengreen, a Professor from Berkeley expressed the view that stabilini can not only to protect investors from losses, but to become for them a real trap. The processor believes that coins do not end up secured real asset, it is not protected from fluctuations in cases of force majeure, and therefore not able to perform their function. The same coins that are fully secured by the dollar or gold, cannot be beneficial to the companies and practically governed the state.
The developers have integrated code Parity Constantinople for the network broadcast. Constantinople – the second part of hard forks Metropolis, the main objective of the upgrade is to reduce transaction fees in the network and to improve the efficiency of the system as a whole.
Platform TokenSoft announced support for projects on the basis of Stellar. Also, the platform users can now make payments in XLM.
Stay tuned not to miss any important event from the world of cryptocurrency!